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Property Loans, Net of Loan Loss Allowances (Tables)
3 Months Ended
Mar. 31, 2017
Property Loan Net Of Loan Loss Allowances [Abstract]  
Schedule of Property Loans, Net of Loan Loss Allowances

The Partnership had the following Property Loans, Net of Loan Loss Allowances, at March 31, 2017 and December 31, 2016:

 

 

 

March 31, 2017

 

 

December 31, 2016

 

Property loans receivable

 

$

38,063,647

 

 

$

36,862,148

 

Less: Loan loss allowance

 

 

(7,098,814

)

 

 

(7,098,814

)

Total property loans receivable

 

$

30,964,833

 

 

$

29,763,334

 

 

Summary of Partnership's Property Loans, Net of Loan Loss Allowances

The following table summarizes the Partnership’s property loans, net of loan loss allowances, at March 31, 2017 and December 31, 2016:

 

 

 

March 31, 2017

 

 

 

Outstanding

Balance

 

 

Accrued Interest

 

 

Loan Loss

Allowances

 

 

Interest

Allowance

 

 

Net Taxable

Property Loans

 

Arbors at Hickory Ridge

 

$

191,264

 

 

$

58,587

 

 

$

-

 

 

$

-

 

 

$

249,851

 

Ashley Square

 

 

5,078,342

 

 

 

-

 

 

 

(3,596,342

)

 

 

-

 

 

 

1,482,000

 

Avistar (February 2013 portfolio)

 

 

274,496

 

 

 

101,441

 

 

 

-

 

 

 

-

 

 

 

375,937

 

Avistar (June 2013 portfolio)

 

 

251,622

 

 

 

92,988

 

 

 

-

 

 

 

-

 

 

 

344,610

 

Cross Creek

 

 

7,155,545

 

 

 

-

 

 

 

(3,447,472

)

 

 

-

 

 

 

3,708,073

 

Greens Property

 

 

850,000

 

 

 

500,449

 

 

 

-

 

 

 

-

 

 

 

1,350,449

 

Lake Forest

 

 

4,623,704

 

 

 

-

 

 

 

(55,000

)

 

 

-

 

 

 

4,568,704

 

Ohio Properties

 

 

2,390,446

 

 

 

1,082,461

 

 

 

-

 

 

 

-

 

 

 

3,472,907

 

Vantage at Brooks, LLC

 

 

8,078,002

 

 

 

67,317

 

 

 

-

 

 

 

-

 

 

 

8,145,319

 

Vantage at Braunfels, LLC

 

 

7,170,226

 

 

 

59,752

 

 

 

-

 

 

 

-

 

 

 

7,229,978

 

Winston Group, Inc

 

 

2,000,000

 

 

 

14,000

 

 

 

-

 

 

 

-

 

 

 

2,014,000

 

Total

 

$

38,063,647

 

 

$

1,976,995

 

 

$

(7,098,814

)

 

$

-

 

 

$

32,941,828

 

 

 

 

December 31, 2016

 

 

 

Outstanding

Balance

 

 

Accrued Interest

 

 

Loan Loss

Allowances

 

 

Interest

Allowance

 

 

Net Taxable

Property Loans

 

Arbors at Hickory Ridge

 

$

191,264

 

 

$

54,742

 

 

$

-

 

 

$

-

 

 

$

246,006

 

Ashley Square

 

 

5,078,342

 

 

 

-

 

 

 

(3,596,342

)

 

 

-

 

 

 

1,482,000

 

Avistar (February 2013 portfolio)

 

 

274,496

 

 

 

90,491

 

 

 

-

 

 

 

-

 

 

 

364,987

 

Avistar (June 2013 portfolio)

 

 

251,622

 

 

 

82,951

 

 

 

-

 

 

 

-

 

 

 

334,573

 

Cross Creek

 

 

7,155,545

 

 

 

-

 

 

 

(3,447,472

)

 

 

-

 

 

 

3,708,073

 

Greens Property

 

 

850,000

 

 

 

467,511

 

 

 

-

 

 

 

-

 

 

 

1,317,511

 

Lake Forest

 

 

4,623,704

 

 

 

-

 

 

 

(55,000

)

 

 

-

 

 

 

4,568,704

 

Ohio Properties

 

 

2,390,446

 

 

 

1,021,723

 

 

 

-

 

 

 

-

 

 

 

3,412,169

 

Vantage at Brooks, LLC

 

 

7,199,424

 

 

 

743,928

 

 

 

-

 

 

 

-

 

 

 

7,943,352

 

Vantage at Braunfels, LLC

 

 

6,347,305

 

 

 

703,416

 

 

 

-

 

 

 

-

 

 

 

7,050,721

 

Winston Group, Inc

 

 

2,500,000

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

2,500,000

 

Total

 

$

36,862,148

 

 

$

3,164,762

 

 

$

(7,098,814

)

 

$

-

 

 

$

32,928,096